PPRuNe Forums - View Single Post - Legalities in Buying Aircraft?
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Old 1st Nov 2002, 00:35
  #5 (permalink)  
gaunty

Don Quixote Impersonator
 
Join Date: Jul 1999
Location: Australia
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Jamair me old .

The tenor of your post and the reaction of the Avtrader person tells me you are about to go where no man has gone before.

Or at least the vendor of the particular aircraft has been there, is still in shock and looking for a way out.

CASA are as far as I am aware up to meeting number 27,145 with the finance industry trying to sort a title and encumbrance system.
It's been in use in the US withe FAA for most of the last century, but remember this is Australia.

Might I suggest that unless the finance companies have forgotten the lessons I taught them at great expense to them some years ago, they probably wont let you go toe deep let alone neck deep if the type is 'exotic'.
They are not keen on people playing fast and lose with their money.
If you have to finance it other than out of personal discretionary income, then you shouldn't.

When it comes to "valuation", you must assume that it is zero unless there is a very active market in the type and that they will want some other security. The family home, is the family home, is the family home keep it that way and as HA says write out 1,000 times the three 'Fs'. If you are still keen then.......try upping your Prozac dosage as well.

If there are no buyers in the country other than yourself and/or discretionary/enthusiasts there is no market therefore NO value.

It's value then is maybe Blue Book wholesale (and if its not in there, then it doesn't have a commercial value) LESS ferry and other costs to return it to the US.

If you want email me the type and I'll see if I can find someone to give you the right advice.

Not trying to rain on your parade but I have seen and presided over the burials of too many tragedies in this arena.
gaunty is offline